RCW 28B.76.525
State financial aid account. (Effective
until July 1, 2012.)
(1) The state financial aid account is
created in the custody of the state treasurer. The primary
purpose of the account is to ensure that all appropriations
designated for financial aid through statewide student financial
aid programs are made available to eligible students. The
account shall be a nontreasury account.
(2) The higher education coordinating board shall deposit in
the account all money received for the state need grant program
established under RCW 28B.92.010, the state work-study program
established under chapter 28B.12 RCW, the Washington scholars
program established under RCW 28A.600.110, the Washington award
for vocational excellence program established under RCW 28C.04.525, and the educational opportunity grant program
established under *chapter 28B.101 RCW. The account shall
consist of funds appropriated by the legislature for the programs
listed in this subsection and private contributions to the
programs. Moneys deposited in the account do not lapse at the
close of the fiscal period for which they were appropriated.
Both during and after the fiscal period in which moneys were
deposited in the account, the board may expend moneys in the
account only for the purposes for which they were appropriated,
and the expenditures are subject to any other conditions or
limitations placed on the appropriations.
(3) Expenditures from the account shall be used for
scholarships to students eligible for the programs according to
program rules and policies.
(4) Disbursements from the account are exempt from
appropriations and the allotment provisions of chapter 43.88 RCW.
(5) Only the executive director of the higher education
coordinating board or the executive director's designee may
authorize expenditures from the account.
[2005 c 139 § 1.]
NOTES:
Reviser's note: *(1) Chapter 28B.101 RCW was repealed in
its entirety by 2009 c 215 § 15, effective August 1, 2011.
(2) 2005 c 139 directed that this section be added to
chapter 28B.10 RCW. This section has been codified as part of
chapter 28B.76 RCW, which relates more directly to duties of the
higher education coordinating board.
RCW 28B.76.525
State financial aid account. (Effective
July 1, 2012.)
(1) The state financial aid account is created in
the custody of the state treasurer. The primary purpose of the
account is to ensure that all appropriations designated for
financial aid through statewide student financial aid programs
are made available to eligible students. The account shall be a
nontreasury account.
(2) The office shall deposit in the account all money
received for the state need grant program established under RCW 28B.92.010, the state work-study program established under
chapter 28B.12 RCW, the Washington scholars program established
under RCW 28A.600.110, the Washington award for vocational
excellence program established under RCW 28C.04.525, and the
educational opportunity grant program established under *chapter 28B.101 RCW. The account shall consist of funds appropriated by
the legislature for the programs listed in this subsection and
private contributions to the programs. Moneys deposited in the
account do not lapse at the close of the fiscal period for which
they were appropriated. Both during and after the fiscal period
in which moneys were deposited in the account, the office may
expend moneys in the account only for the purposes for which they
were appropriated, and the expenditures are subject to any other
conditions or limitations placed on the appropriations.
(3) Expenditures from the account shall be used for
scholarships to students eligible for the programs according to
program rules and policies.
(4) Disbursements from the account are exempt from
appropriations and the allotment provisions of chapter 43.88 RCW.
(5) Only the director of the office or the director's
designee may authorize expenditures from the account.
[2011 1st sp.s. c 11 § 110; 2005 c 139 § 1.]
NOTES:
*Reviser's note: Chapter 28B.101 RCW was repealed in its entirety by 2009 c 215 § 15, effective August 1, 2011.
Effective date -- 2011 1st sp.s. c 11 §§ 101-103, 106-202, 204-244, and 301: See note following RCW 28B.76.020.
Intent -- 2011 1st sp.s. c 11: See note following RCW 28B.76.020.